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exchange rates?

San Diego...
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1,175 posts
13 reviews
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exchange rates?

On xe.com, I see the exchange rate to be: USD/AUD = 1.03916.

My local bank will sell me AUD for 1.0807 w/o any other fees. Obviously, they are making 4% on the deal. Is that reasonable?

I would like to have some AUD when I arrive in Australia for immediate cab and other expenses. Should I buy some before I go? Does anyone know what rates are currently offered by the exchange places in the Sydney airport?

My credit card will charge me 1% on all foreign transactions (other CC I have are 2.5 to 2.7% which I want to avoid). I read that many merchants/hotels, etc. will also charge 1 to 1.5% on every credit card transaction. So I want to avoid it if possible for some expenses. I'm going to have to use it for hotels and other large purchases since I don't want to carry that much cash around.

My bank won't charge me an ATM fee so I plan on using it as much as possible. Actually they will reimburse me for any ATM fees from withdrawals at other banks. I just don't know if their exchange rate is favorable compared to credit card rates. How do I find out before my trip? Of course the rates will change but at least I can compare current rates for various options as of today.

I'd appreciate any suggestions.

Mentioned in this post
Australia
Australia
South Pacific
Sydney Airport
Sydney Airport
Mascot, Australia
Melboune
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2,214 posts
197 reviews
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11. Re: exchange rates?

I stand corrected and retract the reference to Accor's "whole range" in post #9. It's very good of you, Noel, to delve into places even such as Formule 1 in the interests of the TA community!

Edited: 8:17 am, March 19, 2013
Sydney, Australia
Destination Expert
for Penang
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2,788 posts
90 reviews
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12. Re: exchange rates?

Formule 1 no longer exsist ..they have been rebanded ...Ibis

New South Wales...
Destination Expert
for Moab
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3,447 posts
57 reviews
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13. Re: exchange rates?

Not all of them yet. Stayed at Formule 1 Sydney Airport last week and again this week.

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Sydney Airport
Sydney Airport
Mascot, Australia
14. Re: exchange rates?

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